Arab Cotton Ginning’s standalone profit falls 30% in H1 FY 2021/2022
Updated 2/10/2022 10:30:00 AM
ArabFinance: Arab Cotton Ginning Company (ACGC) reported a 30% year-on-year (YoY) decline in standalone net profit after tax for the first half (H1) of fiscal year (FY) 2021/2022, according to the unaudited financial indicators filed to the Egyptian Exchange (EGX).
The company’s standalone net profit after tax stood at EGP 17.38 million in H1 FY 2021/2022, compared to a profit of EGP 24.94 million in H1 FY 2020/2021.
The company generated a revenue of EGP 31.41 million in the July-December period of FY 2021/2022, up by 57% from EGP 20.03 million in the same period of FY 202/2021.
ACGC is an Egypt-based company active in the textiles and clothing industry sector. The company is engaged in the cotton ginning, as well as trading of its products domestically and internationally.
